WWE Hall of Famer Ric Flair and boxing legend Mike Tyson have secured a significant legal victory in their ongoing $50 million lawsuit against former business associates connected to their cannabis ventures.

The two sports icons, alongside other plaintiffs, filed a federal lawsuit in December 2025 accusing former executives and associates of financial misconduct involving Carma, the company behind Tyson 2.0 and Ric Flair Drip.

The lawsuit alleges that several individuals misappropriated company funds, engaged in unauthorized business arrangements, and received undisclosed kickbacks. Flair and Tyson are seeking tens of millions of dollars in damages over the alleged misconduct.

However, the defendants have strongly denied the allegations and previously sought to have the lawsuit dismissed.

Ric Flair and Mike Tyson Secure Key Court Victory in Ongoing $50 Million Lawsuit

According to TMZ, a federal judge in Illinois has rejected a motion to dismiss the lawsuit filed by Tyson, Flair, and their fellow plaintiffs. The decision allows the racketeering case to proceed rather than ending the litigation at this stage.

The plaintiffs accused former Carma executives Chad Bronstein and Adam Wilks of treating the company like a personal bank account, allegedly spending more than $1 million on private jet travel, yacht expenses, home renovations, mortgage payments, and entertainment.

The lawsuit also alleges that other defendants received kickbacks through business arrangements negotiated without the plaintiffs’ knowledge. The defendants named in the motion include Bronstein, Wilks, Nicole Cosby, James Case, and Christopher Volo.

A representative for Tyson 2.0 welcomed the ruling, describing it as a significant development in the plaintiffs’ pursuit of justice. The company also stated that the plaintiffs were prepared to pursue evidence and seek the relief available under the law.

The defendants have maintained their innocence. Attorneys representing Bronstein and Cosby previously described the lawsuit as fiction, while Wilks’ attorney dismissed the allegations as lacking substance.

Tyson and Flair are seeking more than $50 million in damages related to alleged financial misconduct and losses involving their business ventures. The latest ruling does not establish liability or award damages, but it allows the legal battle to continue.